7 Key Reasons Why Every Business Should Build a Data Platform
You need a data platform to unlock the true value of your business data. Today, companies using a data platform see up to 25% higher EBITDA and report real-time analytics creating $2.6 trillion in recognized value. The journey started with on-premises systems, but now most organizations rely on cloud-based data platform solutions for speed and flexibility. By building an enterprise data platform, you give your team the capabilities to break down silos, improve decision-making, and drive business value. A modern enterprise data platform blends technology and people, ensuring you gain the most value from your data. Reflect on how your current data platform supports your goals and where an enterprise data platform could add more value.
Key Takeaways
A data platform centralizes your business data, making it easy to access, share, and secure, which saves time and improves teamwork.
Self-service tools in a data platform let your team explore data and get answers quickly without waiting for IT support, boosting productivity and satisfaction.
Breaking down data silos with a unified platform helps your business see the full picture, make smarter decisions, and respond faster to changes.
Cloud-based data platforms offer scalable storage and fast processing, so your system grows with your business and delivers insights quickly.
Strong data governance and security in a data platform protect your information, ensure compliance, and build trust with customers.
Data Access
Central Repository
A modern data platform gives you a single place to store and manage all your enterprise data. When you use a central repository, you make it easier for everyone in your business to find and use information. This approach brings several important benefits:
Streamlined data access and retrieval saves time and boosts productivity.
Enhanced data consistency and accuracy ensures everyone works with the same, up-to-date information.
Improved data governance and security help you control who can see or change sensitive data.
Facilitated collaboration and knowledge sharing allow teams to work together and innovate.
Better compliance and risk management make it easier to follow rules and spot problems.
Measurable success through KPIs lets you track improvements in data quality, time savings, and cost reductions.
A central repository forms the backbone of your enterprise data platform. It supports your data capabilities by making information available across departments. You can see the value in faster decisions, fewer errors, and stronger teamwork.
Self-Service
A data platform should empower you to access and analyze data without waiting for IT support. Self-service tools let you explore enterprise data, build reports, and answer questions on your own. This freedom increases satisfaction and helps you get results faster.
User surveys show that most people want easy access to self-service portals. In fact, 88% of customers want self-service options, and 67% prefer them over talking to an agent. Businesses see the benefits too—91% focus on self-service as a key investment, and 95% report more self-service requests. These numbers prove that self-service features in an enterprise data platform improve accessibility and engagement.
A strong enterprise data platform with self-service features gives you the capabilities to unlock your data’s full potential. You gain more control, reduce costs, and help your team make better decisions.
Data Integration
Breaking Silos
You often find that data lives in separate systems across your business. These silos make it hard for teams to share information and work together. A data platform helps you break down these barriers. When you connect your enterprise data, you give every department access to the same information. This approach leads to better teamwork and faster results.
A modern data platform uses data ingestion tools to pull information from different sources into one place. You no longer need to chase down files or wait for manual updates. Instead, you can trust that your data is current and complete. This change saves time and reduces mistakes. You also gain the ability to spot trends and patterns that would stay hidden in isolated systems.
Tip: When you break silos, you create a culture where everyone can contribute to business growth.
Unified View
A unified view of your enterprise data gives you a powerful advantage. You see the whole picture, not just pieces. This clarity helps you make smarter decisions and respond quickly to changes in the market.
Consolidating data from many sources lets you discover deeper insights about your operations, customers, and trends.
You can identify new opportunities, reduce risks, and drive growth.
Integrating customer data across all touchpoints improves personalization and satisfaction.
Breaking down silos supports better collaboration and alignment across teams.
Unified data management increases visibility, making your reporting and analysis more accurate.
Leaders get actionable insights that support better decision-making.
Centralized collaboration enables more informed and timely choices.
Real-time unified data platforms let you act instantly on insights, boosting your competitiveness.
A data platform with these capabilities lets you focus resources on high-impact strategies. You save time and money, avoid risks, and create a strong foundation for digital transformation. This unified approach unlocks the true value of your data and helps your business stay ahead.
Data Storage and Processing
Scalability
You need a data platform that grows with your business. In the past, companies relied on on-premises servers for data storage and processing. These systems often struggled when data volumes increased. Today, cloud-based solutions like Snowflake, Databricks, and Vast Data have changed the game. They use elastic cloud services, microservices, and containerization to scale resources up or down as needed. This means you can handle sudden spikes in data without worrying about running out of space or power.
Modern data storage and processing solutions, such as AWS S3 and DynamoDB, automatically adjust capacity and throughput. You do not need to plan for peak loads or invest in expensive hardware. Industry leaders highlight that these scalable systems help you manage rising energy costs, security risks, and network demands. You gain operational efficiency and cost savings, which adds real value to your business.
Note: A scalable data platform lets you focus on growth instead of infrastructure limits.
Performance
Performance matters when you want fast insights from your data. Traditional storage methods often slow down as data grows. Cloud-based data storage and processing platforms solve this problem. They support high-performance computing and allow you to access and analyze large datasets quickly.
Research shows that cloud-based solutions outperform traditional systems, especially for big data analytics. Platforms like Google BigQuery use parallel processing and optimized queries to deliver results faster. The shift from ETL to ELT means you can process data in the cloud, reducing delays and improving scalability. A modern data platform supports structured, semi-structured, and unstructured data, making it easy to build a data lakehouse that fits your needs.
You can combine structured data from databases, semi-structured data from logs, and unstructured data like images in one data lakehouse. This flexibility ensures your data storage and processing can keep up with any challenge. You get the speed and power needed to unlock the full potential of your data platform.
Data Transformation and Modeling
Data Quality
You need strong data quality to get the most from your data platform. Data transformation and modeling help you clean, validate, and organize your data. This process ensures your business intelligence is reliable and accurate. When you use data observability tools, you can monitor your data for errors and fix issues before they affect your reports. Regular cleansing, validation, and auditing keep your data in top shape.
A data platform with strong data transformation and modeling practices improves these metrics. For example, a retail company improved sales report accuracy by focusing on data quality management. This led to better inventory control and higher sales. You can achieve similar results by making data observability a core part of your workflow.
Business Representation
Data transformation and modeling let you build a core data model that matches your business. You use ETL (Extract, Transform, Load) or ELT (Extract, Load, Transform) pipelines to automate these steps. Data observability tools help you track the flow and quality of data as it moves through your data platform.
A well-designed data model enforces rules and relationships. It aligns with your business processes, such as sales or finance, and supports growth. You can add new data types or features without breaking the system. Data observability ensures your data platform adapts as your business changes. This approach gives you a clear, accurate view of your operations and helps you unlock the full value of your data.
Tip: Make data observability a habit. It helps you spot issues early and keeps your data platform running smoothly.
Data Governance
Security
You need strong security to protect your business data. A modern data platform gives you the tools to keep your information safe. You can use features like access controls, encryption, and audit trails to guard against threats. Data observability helps you spot unusual activity and respond quickly. When you use a data platform with built-in security, you lower the risk of data breaches.
Security metrics help you measure how well your data platform protects your business. Many security leaders use scorecards to track business risk and compliance. Dashboards show you where to focus your efforts. You can align your security with business goals and measure the return on your investment. Benchmarking your security against other companies helps you find gaps and improve your defenses. Data observability supports these efforts by giving you real-time insights into your data platform’s health.
Tip: Use data observability to monitor your data platform for threats. Early detection keeps your business safe.
Compliance
You must follow laws and industry standards when you manage data. A data platform with strong governance makes this easier. Data observability ensures you keep accurate records and meet audit requirements. You can use your data platform to automate compliance tasks, such as tracking data lineage and managing access.
Many regulations, like GDPR, HIPAA, and PCI-DSS, require you to protect personal and financial data. Your data platform should support access controls, data masking, and encryption. Data observability helps you maintain audit trails and respond to requests for data access or deletion. Good governance reduces the risk of fines and penalties. It also helps you build trust with your customers.
Data governance frameworks help you meet standards and pass audits.
Automated policy enforcement in your data platform saves time and reduces errors.
Data observability provides the transparency you need for regulatory reporting.
A data platform with strong data observability gives you confidence that your business meets all compliance needs.
Analytics and AI
Business Intelligence
You need clear insights to make smart decisions. A data platform gives you the tools to turn raw data into useful information. With dashboards and reports, you can track sales, monitor trends, and spot problems early. Business intelligence tools connect to your data platform and help you see patterns that drive growth.
When you use a data platform, you can:
Combine data from different sources for a complete view.
Share reports with your team in real time.
Set up alerts for important changes in your business.
Explore data on your own without waiting for IT.
Business intelligence helps you answer questions quickly. You can see what works and what needs improvement. This approach leads to better results and faster progress.
Machine Learning
Machine learning takes your data platform to the next level. You can use machine learning to find hidden patterns and make predictions. Many companies use machine learning to improve customer service, spot fraud, and boost sales. For example, call centers use machine learning to analyze conversations and understand customer needs. E-commerce companies use it to suggest products and personalize shopping experiences.
Here are some ways machine learning adds value to your data platform:
Improves customer segmentation by analyzing buying habits.
Detects fraud by spotting unusual transactions.
Optimizes supply chains by predicting delays and reducing costs.
Analyzes customer reviews to find out what people think about your products.
Helps set the right price by looking at trends and competition.
Personalizes recommendations, as seen with Amazon, Netflix, and Spotify.
Cloud-based data platforms make it easy to use machine learning at scale. You can process large amounts of data quickly and get results that help you stay ahead. When you add machine learning to your data platform, you unlock new ways to grow your business and serve your customers better.
Collaboration and Future-Proofing
Team Enablement
A successful data platform empowers your team to work together and make better decisions. When you give everyone access to the same data and tools, you remove barriers that slow down progress. Companies that invest in data-driven decision-making see a 63% increase in productivity. You can see this in real-world examples, like UPS, which trains employees to use predictive analytics for better delivery routes. Walmart uses a centralized data platform to connect in-store and online data, improving inventory accuracy and teamwork.
A data platform also supports collaboration by making it easy to share reports, dashboards, and insights. You can use self-service tools to explore data and answer questions without waiting for IT. This approach helps your team move faster and stay focused on solving business problems. When you upskill your employees and provide the right training, you build a culture of data literacy. This leads to more informed decisions and stronger results.
Note: Teams that use a unified data platform can spot trends, share knowledge, and innovate together.
Adaptability
Your business needs to adapt to new challenges and opportunities. A modern data platform gives you the flexibility to grow and change as needed. The global data analytics market reached $49.03 billion in 2022, showing how important it is to keep up with new technology. Deloitte’s forecasts show that companies are moving toward hybrid cloud solutions to balance control, flexibility, and cost.
A data platform helps you integrate new data sources, adopt advanced analytics, and meet changing regulations. For example, Spotify processes 600 billion events daily to personalize playlists, showing how scalable platforms support rapid growth. You can use AI and machine learning tools to gain insights and improve products. As sustainability reporting becomes more important, your data platform can help you track and report your carbon footprint.
A future-proof data platform lets you respond quickly to market changes, customer needs, and new regulations. You gain a competitive edge by staying agile and ready for what comes next.
A well-built data platform helps you solve today’s data challenges and prepares you for the future. You track key metrics, improve safety, and support every step of the analytics lifecycle. Your data platform brings together business records, technical inputs, and advanced analytics. This approach gives you a complete view and supports continuous improvement. Start by reviewing your current data platform, involve your team, and seek expert advice. Take action now to build a data platform that drives your business forward.
FAQ
What is a data platform?
A data platform is a system that collects, stores, processes, and manages your business data. You use it to make data easy to access, analyze, and share across your company.
How does a data platform help my business grow?
You gain faster insights, better teamwork, and improved decision-making. A data platform lets you spot trends, reduce errors, and respond quickly to changes in your market.
Can small businesses benefit from a data platform?
Yes! You can start small and scale as you grow. Even basic data platforms help you organize information, save time, and make smarter choices.
What skills do I need to use a data platform?
You do not need to be a data expert. Many platforms offer user-friendly tools. You can learn basic data skills through training, tutorials, or by working with your team.